USD Economic data from the US was mostly weaker than expected yesterday as durable goods orders data and the goods trade balance fell short of estimates. However, the dollar got a boost when new Fed Chairperson Powell gave his testimony and added a...
GBPUSD has formed lower highs and higher lows, creating a symmetrical triangle pattern on its 1-hour time frame. Price is currently testing support and might be due for a bounce soon. Stochastic is on the move up to signal that buyers are regaining the...
USD The US dollar was in a weak spot as equities started the week on a positive note and traders seem wary of a cautious tone from new Fed Chair Powell's testimony. US new home sales also came in weaker than expected with a surprise fall. CB consumer...
EURJPY is trending lower inside a descending channel pattern and is about to test the resistance. This lines up with the 200 SMA dynamic inflection point, which adds to its strength as resistance. The 100 SMA is below the longer-term 200 SMA to...
USD The dollar managed to stay supported throughout the previous week as Fed tightening expectations strengthened while risk aversion lingered in the markets. There were no reports out of the US economy on Friday but Fed officials had a few more positive...
USDCAD recently broke out of an inverse head and shoulders pattern on its 4-hour time frame and looks ready for an uptrend. Price could still pull back to a new rising trend line forming before gaining bullish traction. Applying the Fib tool on the latest...
USD The US dollar lost ground to its peers as risk appetite appeared to return to the markets. Bond yields ticked lower while equities and commodities chalked up gains, leaving the safe-haven currency to decline. Up ahead, FOMC members Dudley, Williams,...
EURUSD could be in for a selloff as a double top pattern can be seen on its 4-hour time frame. Price has yet to break below the neckline at the 1.2200-1.2250 levels before confirming the potential downtrend. The chart pattern is approximately...
USD The dollar was able to score another winning day thanks to higher yields during the debt auction. A bit of risk aversion was also present as commodities and stocks closed in the red. Flash manufacturing and services PMI are due from the US today,...
EURAUD looks ready for a selloff as price is forming a double top reversal pattern on its 4-hour time frame. The pair has yet to break below the neckline at the 1.5650 minor psychological mark before confirming the downtrend. The chart pattern...
